King & Shaxson, the bond broker, has bought UK-based Swiss Life Asset Management (SLAM), and signalled its eagerness to make more acquisitions in the fund management sector.
Swiss Life recently decided to sell parts of its fund management division following a review of operations, designed to put its balance sheet in better order. In May it sold Swiss-based Schweizerische Treuhandgesellschaft to LGT Group for €129m ($147.7m). Swiss Life has refused to reveal the price at which it is selling Swiss Life Asset Management.